Wirte an exponential growth model.
22. A business had a $20,000 profit in 1990. Then the profit increased by 20% per year for the next 10 years.
y=c(1+r)^t
y=20,000(1+0.2)^10
Is that correct?
22. A business had a $20,000 profit in 1990. Then the profit increased by 20% per year for the next 10 years.
y=c(1+r)^t
y=20,000(1+0.2)^10
Is that correct?